Hartford Growth Correlations

Mutual Funds . USA . 
Fund . The Hartford Growth
HGOYX Fund  USD 79.94  0.13  0.16%   
The current 90-days correlation between Hartford Growth and The Hartford Midcap is -0.01 (i.e., Good diversification). The correlation of Hartford Growth is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Hartford Growth Correlation With Market

Poor diversification

The correlation between The Hartford Growth and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in The Hartford Growth. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Hartford Mutual Fund

  1.0HGOFX Hartford GrowthPairCorr
  0.99HGOIX Hartford GrowthPairCorr
  0.99HGORX Hartford GrowthPairCorr
  1.0HGOSX Hartford GrowthPairCorr
  1.0HGOTX Hartford Growth OppoPairCorr
  1.0HGOVX Hartford GrowthPairCorr
  0.99HGOAX Hartford GrowthPairCorr
  0.99HGOCX Hartford GrowthPairCorr
  0.96HGXAX Hartford Global ImpactPairCorr
  0.95HGXCX Hartford Global ImpactPairCorr
  0.96HGXFX Hartford Global ImpactPairCorr
  0.96HGXIX Hartford Global ImpactPairCorr
  0.96HGXSX Hartford Global ImpactPairCorr
  0.96HGXTX Hartford Global ImpactPairCorr
  0.96HGXVX Hartford Global ImpactPairCorr
  0.96HGXYX Hartford Global ImpactPairCorr
  0.99HHHCX Hartford SchrodersPairCorr
  0.99HHHFX Hartford SchrodersPairCorr
  0.99HHHRX Hartford SchrodersPairCorr
  0.99HHHSX Hartford SchrodersPairCorr
  0.99HHHTX Hartford SchrodersPairCorr
  0.9HHMAX The Hartford MunicipalPairCorr
  0.87HHMCX The Hartford MunicipalPairCorr
  0.91HHMFX The Hartford MunicipalPairCorr
  0.9HHMIX The Hartford MunicipalPairCorr
  0.9HHMYX The Hartford MunicipalPairCorr
  0.7HIABX Hartford Total ReturnPairCorr
  1.0HIACX Hartford Capital AppPairCorr
  0.98HIADX Hartford Dividend AndPairCorr
  0.94HIBSX Hartford Stock HlsPairCorr
  1.0HIAGX Hartford DisciplinedPairCorr
  0.96HIAOX Hartford InternationalPairCorr
  0.98HIASX Hartford Small PanyPairCorr
  1.0HIBCX Hartford Capital AppPairCorr
  0.96HILAX Hartford InternationalPairCorr
  0.97HILCX Hartford InternaPairCorr
  0.97HILIX Hartford InternaPairCorr
  0.96HILRX Hartford InternaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Growth Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Hartford Growth's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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